As everyone has pretty stated everything matters and is important, but that is where i differ with most. Most feel speakers is the most important and not to say they aren’t they for sure are but i believe in putting more emphasis on the front end. Preamp, phono preamplifier or section, amp, source equipment, cartridge, turntable, tonearm, digital playback, speakers then cables. Yes quality of power and power cables also make a big difference, but speakers are down on the list for me because you’d be shocked how good even average speakers can sound with great equipment, where as great speakers with modest electronics will sound very mediocre to poor. Not to mention the importance of setup and calibration ! Speaker placement is the single most important aspect in getting good sound.